Detailed Single Year Tables

Description of Proposed Provision:
E2.10: Eliminate the taxable maximum in years 2027 and later. Phase in elimination by taxing all earnings above the current-law taxable maximum at: 1.24 percent in 2018, 2.48 percent in 2019, and so on, up to 12.40 percent in 2027. Provide benefit credit for earnings above the current-law taxable maximum, adding a bend point at the current-law taxable maximum and applying a formula factor of 5 percent for AIME above this new bend point.

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Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

&nbsp

Expressed as a percentage of present-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofpresent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2016

14.05

12.94

-1.10

303

0.00

0.00

0.00

2017

13.72

12.92

-0.80

293

0.00

0.00

0.00

2018

13.86

13.21

-0.65

277

0.00

0.25

0.25

2019

13.99

13.47

-0.51

263

0.00

0.51

0.51

2020

14.13

13.73

-0.40

251

0.00

0.75

0.75

2021

14.27

14.00

-0.27

242

0.00

0.99

1.00

2022

14.49

14.26

-0.23

232

0.00

1.23

1.23

2023

14.76

14.51

-0.25

224

0.00

1.45

1.45

2024

15.03

14.76

-0.27

215

0.01

1.67

1.66

2025

15.30

14.98

-0.31

208

0.01

1.87

1.86

2026

15.49

15.22

-0.27

202

0.02

2.09

2.07

2027

15.67

15.45

-0.22

197

0.02

2.31

2.28

2028

15.84

15.47

-0.37

194

0.03

2.32

2.29

2029

16.01

15.49

-0.52

191

0.04

2.32

2.28

2030

16.15

15.50

-0.65

187

0.05

2.32

2.27

2031

16.28

15.51

-0.77

184

0.06

2.32

2.26

2032

16.40

15.52

-0.87

180

0.07

2.32

2.26

2033

16.49

15.53

-0.96

176

0.08

2.33

2.25

2034

16.56

15.54

-1.02

172

0.09

2.33

2.24

2035

16.60

15.55

-1.05

167

0.10

2.33

2.23

2036

16.67

15.55

-1.12

162

0.11

2.33

2.22

2037

16.72

15.56

-1.16

157

0.13

2.33

2.21

2038

16.75

15.57

-1.18

151

0.14

2.34

2.20

2039

16.76

15.57

-1.19

146

0.15

2.34

2.19

2040

16.75

15.57

-1.18

140

0.16

2.34

2.18

2041

16.73

15.57

-1.16

135

0.17

2.34

2.17

2042

16.71

15.58

-1.14

130

0.18

2.34

2.17

2043

16.69

15.58

-1.11

125

0.19

2.35

2.16

2044

16.67

15.58

-1.09

119

0.20

2.35

2.15

2045

16.66

15.58

-1.08

114

0.21

2.35

2.14

2046

16.64

15.58

-1.06

109

0.22

2.35

2.13

2047

16.63

15.58

-1.04

104

0.23

2.35

2.13

2048

16.62

15.59

-1.03

99

0.24

2.35

2.12

2049

16.61

15.59

-1.02

94

0.24

2.36

2.11

2050

16.61

15.59

-1.02

89

0.25

2.36

2.11

2051

16.62

15.59

-1.03

84

0.26

2.36

2.10

2052

16.64

15.60

-1.04

79

0.27

2.36

2.09

2053

16.67

15.60

-1.07

73

0.27

2.36

2.09

2054

16.71

15.60

-1.10

68

0.28

2.36

2.08

2055

16.75

15.61

-1.14

62

0.29

2.37

2.08

2056

16.80

15.61

-1.19

56

0.30

2.37

2.07

2057

16.86

15.62

-1.24

49

0.30

2.37

2.07

2058

16.92

15.63

-1.29

43

0.31

2.37

2.06

2059

16.97

15.63

-1.34

36

0.32

2.37

2.06

2060

17.03

15.64

-1.39

28

0.32

2.37

2.05

2061

17.08

15.64

-1.44

20

0.33

2.38

2.05

2062

17.14

15.65

-1.49

12

0.33

2.38

2.05

2063

17.19

15.65

-1.54

4

0.34

2.38

2.04

2064

17.24

15.66

-1.59

----

0.34

2.38

2.04

2065

17.30

15.66

-1.64

----

0.34

2.38

2.04

2066

17.35

15.67

-1.69

----

0.34

2.38

2.04

2067

17.41

15.67

-1.74

----

0.35

2.38

2.04

2068

17.46

15.68

-1.79

----

0.35

2.39

2.04

2069

17.52

15.68

-1.84

----

0.35

2.39

2.04

2070

17.57

15.68

-1.89

----

0.35

2.39

2.03

2071

17.62

15.69

-1.93

----

0.35

2.39

2.03

2072

17.66

15.69

-1.97

----

0.36

2.39

2.03

2073

17.70

15.70

-2.00

----

0.36

2.39

2.03

2074

17.73

15.70

-2.03

----

0.36

2.39

2.03

2075

17.75

15.70

-2.05

----

0.36

2.39

2.04

2076

17.76

15.71

-2.06

----

0.36

2.40

2.04

2077

17.77

15.71

-2.06

----

0.36

2.40

2.04

2078

17.77

15.71

-2.06

----

0.36

2.40

2.04

2079

17.76

15.71

-2.05

----

0.36

2.40

2.04

2080

17.76

15.71

-2.05

----

0.36

2.40

2.04

2081

17.76

15.71

-2.05

----

0.36

2.40

2.04

2082

17.76

15.71

-2.05

----

0.36

2.40

2.04

2083

17.78

15.72

-2.06

----

0.36

2.40

2.05

2084

17.80

15.72

-2.08

----

0.36

2.40

2.05

2085

17.83

15.72

-2.11

----

0.36

2.41

2.05

2086

17.86

15.72

-2.14

----

0.36

2.41

2.05

2087

17.90

15.73

-2.17

----

0.36

2.41

2.05

2088

17.95

15.73

-2.21

----

0.36

2.41

2.05

2089

17.99

15.74

-2.26

----

0.36

2.41

2.05

2090

18.04

15.74

-2.30

----

0.36

2.41

2.05

2091

18.09

15.74

-2.34

----

0.36

2.41

2.05

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Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Present Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2016 Trustees Report.

2016-2090

16.71%

15.97%

-0.73%

2063

0.21%

2.13%

1.92%

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1 Under present law, the year of Trust
Fund reserve depletion is 2034.